Article: Growing Pains: Success Strategies for Rural Entrepreneurs to Grow beyond Their Limited Local Markets Journal: Journal of Business and Management (JBM) 2020 Vol.26 No.2 pp.53 - 67 Abstract: Purpose - Business owners in rural areas must navigate limited local markets and deal with the outward migration of their regional populations, which further shrinks the pool of potential customers. This research serves to assist rural businesses with insights into the behaviors of successful rural entrepreneurs in scaling their businesses beyond the capacities of their local markets. Method - This qualitative study used purposeful sampling and interviews with fifteen small business owners. These business founders were chosen for starting and growing their businesses to successful ventures in a very short period. No one earns more than 10% of their revenue from their local markets. All are privately-owned small businesses that generate revenues of over $1 million annually and were able to accomplish it within three years of starting operations. Findings - The results discovered four themes common among the majority of the companies. These were: targeted social media use, multiple touchpoints with customers, product differentiation, and earned media practices. Limitations - The limitations are that only fifteen business owners were interviewed. Although common themes emerged from this small sample, research involving a much larger sample is a logical next step. The development of an instrument to quantitatively analyze the marketing actions and results of small business owners is also warranted to test the generalizability of the findings. Implications - The findings should assist rural small business owners in understanding the particular methods available for them to increase sales and improve their business outcomes, regardless of their physical locations. Originality - This study contributes to rural entrepreneurship research and provides to small business owners practical solutions currently utilized by companies in rural settings. Inderscience Publishers - linking academia, business and industry through research

Title: Growing Pains: Success Strategies for Rural Entrepreneurs to Grow beyond Their Limited Local Markets

Authors: David D. Snow

Addresses: Author address listing can be found in the "About the Authors" section at the end of the article.

Abstract: Purpose - Business owners in rural areas must navigate limited local markets and deal with the outward migration of their regional populations, which further shrinks the pool of potential customers. This research serves to assist rural businesses with insights into the behaviors of successful rural entrepreneurs in scaling their businesses beyond the capacities of their local markets. Method - This qualitative study used purposeful sampling and interviews with fifteen small business owners. These business founders were chosen for starting and growing their businesses to successful ventures in a very short period. No one earns more than 10% of their revenue from their local markets. All are privately-owned small businesses that generate revenues of over $1 million annually and were able to accomplish it within three years of starting operations. Findings - The results discovered four themes common among the majority of the companies. These were: targeted social media use, multiple touchpoints with customers, product differentiation, and earned media practices. Limitations - The limitations are that only fifteen business owners were interviewed. Although common themes emerged from this small sample, research involving a much larger sample is a logical next step. The development of an instrument to quantitatively analyze the marketing actions and results of small business owners is also warranted to test the generalizability of the findings. Implications - The findings should assist rural small business owners in understanding the particular methods available for them to increase sales and improve their business outcomes, regardless of their physical locations. Originality - This study contributes to rural entrepreneurship research and provides to small business owners practical solutions currently utilized by companies in rural settings.

Keywords: Rural entrepreneurship; strategy; small business; e-commerce; applied research.

DOI: 10.1504/JBM.2020.141283

Journal of Business and Management, 2020 Vol.26 No.2, pp.53 - 67

Published online: 05 Sep 2024 *

Title: Growing Pains: Success Strategies for Rural Entrepreneurs to Grow beyond Their Limited Local Markets

Keep up-to-date